AKP Phnom Penh, November 13, 2025 --

The National Bank of Cambodia (NBC) and TenPay Global have signed a Memorandum of Understanding (MoU) on "Cooperation in the Areas of Potential Financial Development" to establish a cooperation framework between the two insitutions to jointly promote interoperability between Cambodia's Bakong system (KHQR) and China's Weixin Pay mobile payment network.

The MoU was signed by H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia, alongside Mr. Daniel Hong, Vice President of Tencent Financial Technology (Tencent), the parent company of TenPay Global during Singapore FinTech Festival 2025, held on Nov. 12 in Singapore.

The goal is to enhance and accelerate digital payments between Cambodia and China, making them more extensive and efficient.

Through this collaboration, both parties will work together to develop the potential of the financial sector, as well as promote the integration of cross-border payments and remittances (both outbound and inbound transfers) between the two countries. 

NBC Governor H.E. Dr. Chea Serey said that the collaboration between the NBC and TenPay Global represents a major step forward in strengthening cross-border payment connectivity and driving financial innovation. 

“It contributes to greater financial inclusion, improves payment efficiency, promotes the use of local currencies, and supports ongoing digital transformation while fostering economic exchange between Cambodia and China. By leveraging advanced digital payment technologies, we can deliver tangible benefits to customers, merchants and travellers, making financial transactions more convenient, secure, and efficient,” she said. 

For his part, Mr. Daniel Hong said the path to global wallet interoperability lies at the intersection of technological advancement and sustained collaborations. 

“By working together with global partners, we are enabling users to use their home wallets anywhere in the world conveniently, securely, and with the same confidence they have at home. In doing so, we are shaping a trusted and connected payment ecosystem that deliver real value to consumers and unlocks new opportunities for global commerce,” he emphasised. 

By Chea Vannak